155 Chautauqua Ave · Portsmouth, VA 23702

$210,000

7 bd · 2.0 ba · 2,406 sqft · SingleFamily public records · 5 Days on market

Built 1900 $87/sqft · 32% below area Est $310k · 32% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.1/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.1/10.0
• 1% rule +5.7/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great investment opportunity to own an income-producing duplex in the historic district of Port Norfolk. This up-and-down duplex features two separate units, 1 with 3 bedrooms and 1 bathroom, with individual utility meters. Downstairs unit has 4 bedrooms, 2 bathrooms. Downstairs is currently rented through February 2027, providing immediate rental income, while the upstairs unit has been cleaned and is move-in ready for you to make it your own.

Key facts

• Move in ready
• Historic district
• Built 1900

Tags

• INCOME PRODUCING DUPLEX
• HISTORIC DISTRICT
• INDIVIDUAL UTILITY METERS
• MOVE IN READY

Property features AI

Finance

• Financial info: Unit 2 currently rented at $2,024/month (lease through 02/28/2027, annual lease)

Exterior

• Parking: Off-street parking for both units
• Utilities: Separate meters for all utilities; City/County sewer; City/County water; Gas water heater
• Home design: Duplex, over/under configuration; Simple ownership; Entry levels: Upper unit and lower unit
• Construction: Asbestos and clapboard siding; Asphalt shingle and slate roof; Crawl space foundation
• Exterior features: Back yard partially fenced with chain link fencing

Interior

• Kitchen: Gas range in both units; Refrigerator in both units
• Bedrooms: Unit 1 has 3 bedrooms (up); Unit 2 has 4 bedrooms (down)
• Flooring: Unit 1: Carpet and vinyl; Unit 2: Ceramic
• Bathrooms: Unit 1 has 1 bathroom; Unit 2 has 2 bathrooms
• Heating & cooling: Unit 1: Heat pump with natural gas heating and central air; Unit 2: Window/wall cooling and ceiling fan
• Interior features: Family room in each unit; Fixer upper
• Laundry & utility: Washer hookup in both units; Dryer hookup in both units; Gas water heater

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Cap rate 8.2% vs local median 4.6% in Portsmouth — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#172 in VA) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment C-, crime F, commute F.
• Portsmouth City Public School District (urban): math 34% / reading 58% proficiency, ranked #107 of 131 in VA (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Park View Elementary (math 22% / reading 47%, grade F, #966 of 1,108 statewide, top 89%, 463 students, 99% FRL); I.C. Norcom High (math 39% / reading 58%, grade D, #301 of 319 statewide, top 95%, 1,043 students, 100% FRL) — zoned schools average 100% FRL vs 60% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+4.0%/yr); 64 active listings in the ZIP; 300 units permitted in Portsmouth city in 2024 (112 in 5+ unit buildings).
• At $2,252/mo this rent would consume 55% of the median local household income ($49k/yr) (locally 534% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 4.0% rent growth), your $59k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.90%
• DSCR: 1.31
• GRM: 7.8

CMA / ARV

• ARV (median comp): $309,500
• List price: $210,000
• Delta: -32.15%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.97% rent growth · sell at horizon

5-year hold

• IRR: 29.7%
• Equity multiple: 3.35×
• Total profit: $138,158
• Equity at exit: $189,185

10-year hold

• IRR: 26.1%
• Equity multiple: 7.71×
• Total profit: $394,653
• Equity at exit: $407,984

Cash invested: $58,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 23702

• Home prices YoY: 5.2%
• Rents YoY: 4.0%
• Active inventory: 64
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,252 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$252 /mo · $3,023/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $338

Break-even live

Break-even rent $1,824

Max offer price $210,000

Occupancy floor 80%

Sensitivity live

Price	-10% $457	-5% $398	+0% $338	+5% $279	+10% $219
Rent	-10% $160	-5% $249	+0% $338	+5% $427	+10% $516
Rate	-1.0pp $444	-0.5pp $392	base $338	+0.5pp $284	+1.0pp $228

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-18
   status Under Contract 448-char remark
2. 2026-05-13
   listed $210,000 Active 448-char remark
3. 2021-04-06
   soldstatus $210,000
4. 2021-03-23
   status Active
5. 2021-03-22
   historical
6. 2021-02-17
   listed $278,000 Active
7. 2013-06-26
   soldstatus $25,000
8. 2011-11-07
   soldstatus $45,000
9. 2011-09-27
   soldstatus $53,550

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $3,023 · $252/mo
• Projected year-2 tax: $3,023 · $252/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 56% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,021
• − Mortgage interest: −$11,763
• − Property taxes: −$3,023
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,162
• − Management: −$2,162
• − Depreciation: −$6,109
• Taxable income: $752
• Est. tax owed @ 24.0%: −$181
• After-tax cash flow: $3,878/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Portsmouth City Public School District
• NCES district ID: 5103000
• Math proficiency: 34% ▼ -40.00%
• Reading proficiency: 58% ▼ -12.00%
• Median HH income: $46,152
• Composite: 39.01/100
• National rank: #4071
• State rank: #107 of 131 in VA

Livability — Portsmouth

• Score: 73/100
• State rank: #172
• US rank: #5381

Category grades

Amenities A+ Commute F Cost of living A+ Crime F Employment C- Housing A+ Health & safety A+ User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portsmouth, VA
• County: Portsmouth City · 96,366 people
• City population: 96,366
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 12,485
• Household income: $48,835
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 534.0

Population outlook (Portsmouth County) Hauer SSP2

• Today (2025): 96,730 people
• By 2030: 96,760 · +0.0%
• By 2040: 96,573 · -0.2%
• By 2050: 95,606 · -1.2%
• By 2075: 93,579 · -3.3%
• By 2100: 83,756 · -13.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Black 50% White 35% Two or more races 9% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Portsmouth

• 2024 margin: Solid D (+38.6) · D 68.6% · R 30.0% · Other 1.4%
• 2008→2024 swing: -0.7pp no change · 2008: 39.3pp · 2024: 38.6pp
• All cycles: 2024: D+38.6 2020: D+40.8 2016: D+36.5 2012: D+39.6 2008: D+39.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.70%
• Current HPI: 340.0817
• Rent YoY: ▲ 3.97%
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

+292.2% since first listed

9 events — show timeline

• 2026-05-18 Pending — REINMLS
• 2026-05-13 Listed $210,000 REINMLS
• 2021-04-06 Sold (Public Records) $210,000 Public Records
• 2021-03-23 Relisted — REINMLS
• 2021-03-22 Listing Removed — REINMLS
• 2021-02-17 Listed $278,000 REINMLS
• 2013-06-26 Sold (Public Records) $25,000 Public Records
• 2011-11-07 Sold (Public Records) $45,000 Public Records
• 2011-09-27 Sold (Public Records) $53,550 Public Records

Property tax history

+2.6%/yr

Latest (2025): $3,023 · +2.0% YoY. Source: county tax records.